The Corporación Eléctrica del Ecuador (CELEC EP) and contractor Sinohydro Corporation signed the Final Acceptance Act for the Coca Codo Sinclair hydroelectric project, which has a capacity of 1,500 megawatts, on April 17.
This agreement is part of a government-led effort to resolve a contractual process that has been pending for ten years. The move aims to strengthen management of this strategic infrastructure and protect national interests.
The document was signed by Sheng Mingzhong, project manager at Sinohydro Corporation, and Pedro Luis Rodríguez, deputy manager of the Coca Codo Sinclair Project at CELEC EP and administrator of the engineering, procurement, and construction contract. Rodríguez represented the Ecuadorian state in this act.
This step follows an arbitral award agreed upon by both parties. The International Court of Arbitration notified approval on April 3 for the solution reached between CELEC EP and Sinohydro to close international arbitration proceedings. The process had authorization from Ecuador’s Office of the Attorney General.
Officials said that this milestone does not mean transfer or loss of control over the hydroelectric plant. “Ecuador maintains oversight, supervision, and defense of its interests over Coca Codo Sinclair,” according to those involved in the signing. Guarantees related to retention substitution as well as proper functioning will remain under CELEC EP’s custody.
The government says its objectives are to ensure energy security for Ecuador, protect public resources, and manage strategic infrastructure so it benefits all citizens.
